"I congratulate Greg Hands as a robust eurorealist for raising this interesting debate as we dont know for sure how the Eurozone will weather the global financial crisis. Some say it saved the Irish economy by preventing a run on their currency others say it is doomed to failure as countries like Spain and Italy have to peel off. As someone who has an open mind about its long term prospects of viability I can only say if the weaker members do peel off the core group will be much stronger making the single curency more robust not less. My understanding is the Conservative Party has formally adopted the tougher IDS position of saying "never" to the single currency as opposed to the earlier policy of William Hague of "not for the duration of each parliament’ ie open to peiodic review which I recollect was endorsed by the membership in a referendum, so I cannot see a Conservative government or opposition party under David Cameron ever endorsing such a radical move and certainly not without a referendum which surely the British public would reject. However I agree with Greg that ultimately as we saw in the Eurozone countries citizens were less attached emotionally to their national currencies than many predicted provided the change did not result in inflation which at least at first it certainly did in Germany and Italy (the Teuro phenomenon) as prices were rounded up which was specifically prohibited in Cyprus and Slovenia. So I can see the basis of Greg’s conjectures but doubt the PM would wish to lose his place at certain IMF and other international high level economic meetings if the UK abandoned the pound and surely such a move would be deeply unpopular in Britain and seal his fate electorally just as he is seeing a bounce in his favour and putting the outcome back into hung parliament territory."